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Sony Ends $10 Billion Merger With India Media Giant Zee
Sony has scrapped plans for a $10 billion merger of its Indian unit with Zee Entertainment, "ending a deal that could have created one of the South Asian nation's biggest TV broadcasters," reports Reuters. From the report: The collapse of the deal in content-hungry India creates more uncertainty fo...
Sony has scrapped plans for a $10 billion merger of its Indian unit with Zee Entertainment, "ending a deal that could have created one of the South Asian nation's biggest TV broadcasters," reports Reuters. From the report: The collapse of the deal in content-hungry India creates more uncertainty for TV broadcaster Zee in particular as competition heats up, with Disney, also seeking to merge its Indian businesses with the media assets of billionaire Mukesh Ambani's Reliance. Zee told Indian stock exchanges Sony was seeking $90 million in termination fees for alleged breaches of their merger agreement and emergency interim relief by "invoking arbitration."
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